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Continental split may begin this year – Manager Magazin

Continental split may begin this year – Manager Magazin

Thursday 18th January 2018 | 0 Comments

We may see a breakup of Continental AG commencing before the end of this year. German business publication Manager Magazin writes that Wolfgang Reitzle, chairman of the tyre maker and automotive technology company’s Supervisory Board, foresees the first subsidiary to emerge from this breakup being listed on the stock exchange some time in 2018. He sees this as being the direction Continental will clearly take, even though to-date neither the Supervisory Board nor the Executive Board has decided upon a concrete course of action.

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Prometeon/Aeolus integration stalls

Prometeon/Aeolus integration stalls

Thursday 18th January 2018 | 0 Comments

The integration of Prometeon Tyre Group (the former Pirelli Industrial business) and Aeolus Tyre Co. Ltd has stalled after Aeolus’ pending acquisition of a 90 per cent stake in Prometeon failed to gain overseas acquisition approval from Chinese authorities before the 31 December 2017 deadline.

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Goodyear announces US$0.14 quarterly dividend

Thursday 18th January 2018 | 0 Comments

Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.14 per share of common stock. The dividend is payable 1 March 2018 to shareholders of record on 1 February 2018. The payout represents an annual rate of US$0.56 per share.

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Farnese Pneumatici to distribute Triangle tyres in Italy

Farnese Pneumatici to distribute Triangle tyres in Italy

Wednesday 17th January 2018 | 0 Comments

Triangle Tire Europe and Farnese Pneumatici have signed an agreement for the distribution of Triangle brand car, SUV, 4x4, and light commercial tyres in the Italian market. The deal signals the continuation of Triangle’s European strategy, following recent distribution agreements in France, Russia, and other European markets.

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Goodyear Dunlop awarded Nissan quality certificate

Wednesday 17th January 2018 | 0 Comments

Nissan’s purchasing department has recognised what it states is Goodyear Dunlop’s “excellent quality performance in supplying automotive components to Nissan.”

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ATG: New ranges, OEM focus

ATG: New ranges, OEM focus

Wednesday 17th January 2018 | 0 Comments

Following on from the launch at last year’s SIMA show of the Agriflex+ 389 VF, Alliance Tire Group (ATG) released further agricultural tyre lines during 2017, including the Alliance 128. The Yokohama Rubber-owned tyre maker also announced its intention to intensify its activities with OEM customers and has appointed a dedicated original equipment team.

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Bush Tyres: New locations, appointments supporting agri growth

Bush Tyres: New locations, appointments supporting agri growth

Tuesday 16th January 2018 | 0 Comments

Happy Birthday, Bush Tyres. Now 70 years old, Lincolnshire and East Yorkshire’s leading independent tyre specialist may well be the longest-established agricultural tyre supplier in the country. Set up as a bicycle tyre specialist in 1947, agricultural tyres joined the portfolio soon afterwards, and Bush Tyres never looked back. Now in its fourth generation, the family-run business is, as a Grouptyre member, strongly engaged in the distribution and retail sale of car tyres, and it is also equipped to meet the tyre and service requirements of commercial fleets. The agricultural tyre business remains nonetheless important to Bush Tyres, and here it is present in a variety of segments, including original equipment. Marketing director Tom Bush shares that the tyre company was particularly active in this last-mentioned field in 2017, and aims to continue its growth there during the course of this year.

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Sources say Continental has hired JP Morgan to advise on possible break-up

Tuesday 16th January 2018 | 0 Comments

JP Morgan has allegedly been hired to advise tyre maker and automotive technology company Continental on a possible break-up. Reuters reported yesterday that “three people familiar with the discussions” have indicated that the investment bank has been given this role, however neither Continental nor JP Morgan have commented on the bank’s involvement.

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Goodyear Dunlop receives Nissan Quality Certificate

Tuesday 16th January 2018 | 0 Comments

During the annual Nissan Europe Supplier Quality Seminar, representatives from Nissan’s Purchasing Department recognised Goodyear Dunlop’s “excellent quality performance in supplying automotive components to Nissan.” Although it announced news of this honour today, the tyre maker was awarded at a ceremony that took place at the Nissan Brand Center in Barcelona, Spain last September.

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India expansion to boost Yokohama Rubber’s off-highway tyre production

Monday 15th January 2018 | 0 Comments

A total of US$45.5 million is being invested to expand the Yokohama Group’s global production capacity for off-highway tyres. The investment will cover the production of a new plant in India that will add a further 34,700 tonnes to Yokohama’s capacity by the end of 2019. Work on the plant will commence next month at the site in Dahej operated by ATC Tires Pvt. Ltd., a subsidiary of Yokohama Rubber’s July 2016-acquired off-highway company Alliance Tire Group (ATG).

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Made in Holland: Magna Tyres starts production at reopened Obo factory

Made in Holland: Magna Tyres starts production at reopened Obo factory

Monday 15th January 2018 | 0 Comments

European manufacture of certain products in the Magna Tyres range began last week at the company’s Obo Tyres plant in the Netherlands. Tyrepress.com was there and will report on the reopening of the Obo site as well as Magna’s plans for the facility, but the headline news is that three Magna Tyres products will now be made in Holland. These are the Magna MA02 in size 29.5R25, Magna M-Terrain in size 26.5R25 and a new tyre line, the Magna AG24 in size 24R20.5.

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Kordsa expands polyester yarn capacity

Friday 12th January 2018 | 0 Comments

Kordsa is expanding its polyester capacity at its plant in Izmit, Turkey. With the addition of new facilities and equipment, Kordsa aims to have an additional polyester yarn capacity of 7000 tons with an additional 3,500 m2 area in its current facility this year.

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Conti to buy 5% of Here Technologies

Friday 12th January 2018 | 0 Comments

Continental has announced it plans to acquire a 5 per cent stake in digital mapping and location services provider Here Technologies.

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Petlas aims to increase car and truck tyre sales with factory investments

Petlas aims to increase car and truck tyre sales with factory investments

Friday 12th January 2018 | 0 Comments

Already a market leader in the agricultural tyre segment in the North Africa, Middle East and Eastern Europe, Turkish tyre manufacturer Petlas is now aiming to increase its passenger car and truck tyre sales figures in the years to come. To this end, the firm reports that it made a series of investments in its passenger car tyre production during 2017.

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Korea Development Bank could halt Kumho restructuring, trigger receivership

Friday 12th January 2018 | 0 Comments

Kumho Tire has been attempting to downsize for a possible sale, according to the Korea Times. At the same time, the Korea Development Bank (KDB) is threatening to withdraw support for Kumho Tire unless the tyremaker can agree restructuring terms with its trade unions. And this in turn could trigger receivership.

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